Chill Guy Meme Coin Surges 60% Amid Creator’s Copyright Concerns
The Chill Guy meme coin #CHILLGUY has gained significant attention in the crypto market, increasing nearly 60% in value within 24 hours.
Launched on November 15, this Solana-based token's market cap rose from $10 million to $461 million, driven by its viral mascot, a cartoon dog appealing to a wide online audience.
The Meme Behind the Coin
Chill Guy, an anthropomorphic brown dog dressed in a grey sweater, jeans, and red sneakers, has become an internet sensation. Its relaxed demeanor and humorous captions have resonated particularly with Gen Z users on platforms like TikTok.
This popularity has contributed to the token’s price increase to $0.4181, reflecting a nearly 60% gain in one day. According to CoinGecko, $CHILLGUY reached its all-time high of approximately $0.5309 on November 21. The ongoing price surge emphasizes the appeal of meme coins, which are known for their volatility and potential for substantial returns, often leveraging internet trends and vibrant online communities.
A Boon for Early Investors
Despite its success, Chill Guy's rapid rise has sparked controversy. Philip Banks, the creator of the Chill Guy character, expressed concerns over unauthorized commercialization of his work.
On Friday, Banks stated on X that the artwork is copyrighted and announced plans to pursue legal action against unauthorized merchandise and imitation coins profiting from his creation. He clarified that his actions target for-profit ventures lacking permission or credit, not casual uses of the character.
Nonetheless, $CHILLGUY's growth has yielded significant profits for early investors. Reports indicate some traders transformed a $1,000 investment into over $1 million within days. This explosive growth parallels other successful meme tokens like Peanut the Squirrel #PNUT and First Convicted Raccoon (FRED), both of which captured market interest earlier this year. PNUT achieved a $1 billion market cap shortly after launch, while FRED rose 383% in just one day.